Farmers reject high price of Monsanto seeds

From: Lucy Sharratt – CBAN Coordinator: coordinator@cban.ca

Monsanto earnings down, scraps profit target – farmers reject high priced GE seeds

Monsanto’s earnings disappoint – abandon target to double profits in 5 years – Farmers don’t buy Monsanto’s high prices.

Monsanto’s second quarter earnings did not match their projections, though the company is still robust (some were expecting worse results). Here are summary points from the below news:

– 19% drop in fiscal second quarter earnings, scrapped its target to double profit in 5 years.
– Monsanto shares have fallen about 15% this year.
– Equities analyst refers to Monsanto’s arrogance, its ambitious growth projections were unrealistic.
– Farmers refusing to pay new high price for Monsanto’s eight trait GE corn “SmartStax”  $75/bag http://www.cban.ca/corn
– Farmers also refusing to pay high prices for Roundup Ready2 technology.
– Monsanto’s claims to higher yield not substantiated with third-party data.
– Monsanto now reducing prices, heavily discounting SmartStax = “penetration pricing” to gain market share.

For more info on Monsanto: http://www.cban.ca/monsanto

You can write a letter from CBAN’s website to the Minister of Health asking her to withdraw approval for Monsanto’s “SmartStax” corn: http://www.cban.ca/corn

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One response to “Farmers reject high price of Monsanto seeds

  1. Pingback: Tweets that mention Farmers reject high price of Monsanto seeds « GE Free BC -- Topsy.com

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